Las Vegas Condos Real Estate-Vegas Strip High Rises & Luxury Homes News

MGM CityCenter Devaluation

Wed, 21 Oct 2009 18:09:46 -0500

MGM CityCenter has been devalued to less than its construction costs. CLICK TO READ

With lending so tight and pricing at $700 psf for regular condos - non penthouse units - will buyers close escrow? Will CityCenter need to do further price reductions or buyers forfeit their deposits and re-look at the project later or others? Time will tell.

What is HOT? MGM SIGNATURE HOTEL-CONDOS at $150k + for studios! Is this realtor "puffery". I don't think so. Send me an e-mail & i will send you a list of all the recent closings at the Signature at MGM Grand and the sales velocity will speak for itself as well as the over list price closing stats in some instances.

Visit THE STARK TEAM on the web:

www.junestark.com

Contact The Stark Team.

Deutsche Bank Offer Settlement in the Cosmopolitan Las Vegas Law Suit Case

Tue, 20 Oct 2009 13:33:15 -0500

It's about time that the pre-construction buyers of the Cosmopolitan Resort Las Vegas WEST TOWER received news that their lawsuit was winding down: CLICK TO READ

The photo below was taken a year ago, when Lauren & I had the opportunity to go up into the Beach Club Tower while it was under construction. The views are some of the nicest from any Las Vegas Strip high rise. Lauren just called me a few hours ago, to tell me how stunning these Cosmopolitan Towers are looking and how amazing the strip has transformed with MGM CityCenter and the COSMO gracing the Harmon Corridor.

I expect the Cosmopolitan lawsuit settlement of the west tower units is a win win situation for all parties concerned. I also expect the east tower will follow suit as a precedent has been set. I imagine that if Deutsche bank needs a buyer to operate these hotels - that buyer will not want to share revenues with condo owners.

I also imagine some preconstruction buyers will want to hang onto their units because the views are really priceless. Time will tell.

Looking for a Las Vegas condo foreclosure at the MGM Signature or a Trump Tower condo deal?

We have the connections to get you some really well priced units at both of the above Las Vegas Hotel-Condos. Cash buyers only at this time. There is no condotel financing available.

702-376-5220

Trump Las Vegas Hotel Condo - Will The Donald Take Mgm CityCenter's Lead or Will He Out Fox Them?

Thu, 15 Oct 2009 22:50:37 -0500

It is old news that MGM CityCenter is reducing prices 30% in an effort to convert contract holders into actual sales and perhaps sell some previously unsold inventory. At upwards of $700 psf they have a real challenge on their hands. It is always easier to sell the tangible and I expect that Mandarin Oriental condos will be some of Vegas' finest & priciest high rise condos. Buyers soon will be able to walk through these true trophy properties and I think these will be the creme de la creme in Las Vegas real estate on the strip.

Always an outside of the box thinker, I was wondering if The Donald will follow suit and try to take the wind out of MGM's Sails with some aggressive pricing on the unsold inventory in Trump Tower Las Vegas. Last week, a colleague of mine reduced the prices of her Trump Las Vegas 1 bedrooms and studio listings and is marketing them as short sales. Here is a presentation of one of them:

CLICK TO VIEW TRUMP TOWER 1 BEDROOM SHORT SALE

Real estate is Trump's game and as he sees the beginnings of the price cracks in the Trump pricing floor, as evidenced by the short sale listings that are new to market, my guess is that he will be quick to go with the flow and capture some of the bargain seeker vulture buyer's dollars - because that is the mentality of all buyers in Las Vegas real estate 2009. Needless to say the timing is right to strike when interest in Las Vegas real estate is peaking with buyers galore sifting thru the foreclosure listings and gobbling them up in an unprecedented buying frenzy. We are selling MGM Signature hotel condos at $150k - $300k rather quickly as the foreclosures come on the market and sell in a week's time when the price is right. Will Trump take the lead?

Trump Las Vegas is an elegant building with an on site rental program. The income from these rentals will offset part of the carrying costs but in today's economy, the units in the rental program are by no means money makers. But for those wanting and easy care condo in a fantastic location in an elegant building, these condos may fit the bill.

Trump Las Vegas has a great gym and spa, and pool area, and a location that is very convenient for walking to WYNN, Encore, The Palazzo, Fashion Show Mall, and even MGM CityCenter. The building is elegant. It is non gaming and non smoking. HOA dues on the studio units of 520 sq. ft approximately, are about $370 per month and on the One Bedrooms they are about $730 per month.

THE STARK TEAM is well connected to TRUMP. I was featured on their promotional video for preconstruction sales and Lauren was featured on HGTV's What You Get For Your Money, showing Trump's studios.

Contact Us is you are thinking about getting a TRUMP Las Vegas Condo Hotel and we will do our best to work with the Trump Organization to get you aggressive pricing. At this time, purchases must be all cash only. We have access to some interesting options that may be worth looking into if you are seeking a Las Vegas Condo Hotel.

Visit us at:

And for the Myriad of Bottom Feeders out there:

CLICK TO VIEW THESE TRUMP TOWER SHORT SALES

My bet is that The Donald Gets it!

Call 702 376-5220

Foreclosure Listings in Las Vegas - Flying off the Market as Fast as they are Listed

Thu, 15 Oct 2009 14:45:55 -0500

I couldn't have said it better - Please read this article to have a better understanding of the current state of the Las Vegas Foreclosure market. Check out this link: Foreclosure Bubble in Las Vegas Real Estate

Each time I get a potential buyer call, I need to have "THE CHAT". "The CHAT" details just what the realtor in the link above told her friend. We have such thin inventory that well priced repos are flying off the shelf so to speak and multiple offers over list price are common. We have to write several offers for each buyer before we can obtain a property. Cash buyers are plentiful seeking tangible assets in the day of the declining dollar.

Want verification of the state of the Las Vegas Foreclosure market. CNN News should just visit our site to determine what is the truth and what is "realtor puffery" - and "puffery" is unethical and I find CCN's hinting of "puffery" offensive:

Visit www.LasVegasForeclosureWorld.com

and check the status of the listings. Those which are "contingent" or "pending" are under contract. The status must be "AVAILABLE" and by the time buyers come into view these properties they are SOLD. Crazy? Yes. But Las Vegas real estate agents can't complain. We are as busy as we were during the 2005 Vegas Real Estate Rush. And there has been no press written about how desirable Las vegas real estate really is and how many people keep coming to our beautiful desert city to retire, vacation, and enjoy the fantastic weather we are enjoying. I have lived here since 1972 and our city always bounces back, and Henderson and Las Vegas and Boulder City are great places to live.

Looking for a Las Vegas Condo Bargain or Strip area High Rise Condo Foreclosure?

CONTACT THE STARK TEAM

Lake Las Vegas Real Estate interest you? Since the masterplan is in bankruptcy - we have 20 cents on the dollar deals here.

And don't forget the new homes where national home builders are looking to boost their year end numbers and you can get a brand spanking new home with all the bells and whistles buyers are seeking at foreclosure prices. THE STARK TEAM has over 40 years combined Las Vegas Real Estate experience.

We look forward to hearing from you soon. E-Mail Us.

Looking for a Las Vegas Foreclosure Deal on a Home or Strip Area Condo? Use our EZ Search Tools on www.LasVegasForeclosureWorld.com

Sat, 10 Oct 2009 19:09:18 -0500

The Stark Team has established a new website to enable our clients to keep track of all Las Vegas Foreclosures listed in the GLVAR MLS. Clients can use the latest search technology to register on www.LasVegasForeclosureWorld.com and explore all type of REO listings in Clark County from Las Vegas to Henderson NV.

Due to the strong buyer demand for Las Vegas condo foreclosures, we have established www.LasVegasCondoBargains.com as well. My background as a computer programmer - back in the day of the main frame, has helped me develop user friendly interfaces for all our websites. Please e-mail me any feedback for links for any REO properties in Las Vegas that you would like to see as specialized tabs on our website.

We are excited to welcome our two new team Members, Helen Michel and Lance Bazil.

Helen has years of experience in luxury high rise condos on the strip as country club communities in Summerlin and Spanish Trail.

Lance was the former Director of Sales at Allure Las Vegas and was the top sales person at Amber Ridge condos in Summerlin, where he resides.

Contact us todayfor all your Las Vegas real estate needs from strip area high rise condo foreclosure to MGM CityCenter Condos to REO bank owned homes in Summerlin and Anthem.

702 376-5220

Trump Tower Las Vegas Has a Flurry of Short Sales New to Market!

Wed, 07 Oct 2009 23:06:00 -0500

With MGM CITYCENTER's announcement this past Monday of a 30% price cut, to incentivize pre-construction buyers to close escrow, came the analogy by MGM/Mirage execs that this reduction would keep prices in line with those of TRUMP and Palms Place. To date, prices have held up quite well in both these hotel-condos. Today's MLS has a surprise. There are several SHORT SALES at TRUMP LAS VEGAS priced between $150k-$325k.

VIEW OTHER LISTINGS IN TRUMP CONDOS LAS VEGAS

Short sales are a long shot in today's market. Nevada is a state in which the bank can seek a deficiency judgment against the seller and many are not amenable to letting sellers walk from their obligations because their investments didn't go as planned. However, sometimes a bank does not want the inventory back on its books and the seller is willing to come to the table with part of the deficiency, and in a perfect world, the buyer gets a steal of a deal.

The TRUMP LAS VEGAS units listed in the link above, are short sales that previously sold for $600k to over a million. Cash only is acceptable on these units as there is no condo-hotel financing available. And the on site rental program is not a money maker for the owners by any means. But for those wanting a stunning pied-a-tierre in a great high rise condo right off the strip - where you can walk to just about everything - These condos become extremely attractive at this price point.

Looking for a great deal on a condo on & near the Vegas Strip? Use our Las Vegas Condo oriented websites as your reasearch tools:

www.LasVegasLuxuryHomes.com

www.LasVegasHirisecondos.com

Take the Tour of Panorama Tower North

Keep track of the condos that are of interest and E-MAIL US:

junestark@msn.com

We look forward to hearing from you soon.

MGM/Mirage CityCenter Lowers Prices 30%-Deal or No Deal?

Tue, 06 Oct 2009 01:00:21 -0500

MGM/Mirage announced a few hours ago that it would be "slashing" prices by 30%.

Green Living! On Site Shopping Galore! A city within the city of Las Vegas! Futuristic! Inviting! Will the buyers say Deal or No Deal? Email us your thoughts: junestark@msn.com

CLICK TO READ THE NEWS

Vdara Buyers will be offered a chance to move their deposits into VEER - and perhaps financing will be able to be obtained on the residential loft style units on the Las Vegas Strip. That would be a welcome harbinger of things to come. Las Vegas Strip condo financing - what a unique concept in the high rise condo market of 2009!!

We have Panorama Towers 1 & 2 in contruction defect litigation - which makes the previously loanable condo units non loanable. Then there are the stunning Turnberry MGM Signature hotel condos that are being gobbled up by cash buyers at an oh so frenzied pace. With multiple offers on each unit - would be buyers enter a Vegas condo game of "Highest and Best" with the bank - Want to play? - CONTACT THE STARK TEAM - We have connections with the leading REO agents to get our buyers units at a fraction of the cost of MGM CityCenter Condos.

Does $700 psf sound like a deal to you? Granted the location is wonderful - but 1 block east - in a less dense site - and guard gated as well - SIGNATURE condo buyers are getting lavishly appointed 1 bedroom condos at under $300k - placing the price per sq. ft. in the $300 range - Half the price of CityCenter.

Consider Panorama Tower III - Just foreclosed upon by its construction lender - We can help you acquire a condo there at under $400 psf with appointments and finishes just amazing. The cool thing about these luxury condos are the bedazzling strip views - walls of glass - low HOA dues - It's just across the freeway from CityCenter. We have just sold a few of the most stunning condos at this tower at amazing prices for such high quality and design. Click the tour link below and see for yourself!

Before you consider which condo suits your fancy, give us a call to discuss the issues and financing or lack thereof in each tower. Navigating the ins and outs of bank owned inventory - developer "deals" - short sales - building rules and regulations is a specialty niche. We will supply you with all the stats and facts that you need to enable you to make a sound decision.

Visit Us At:

702 236-8364

Las Vegas Foreclosures - Las Vegas Repos - Bank Owned Strip Condos - Las Vegas High Rise Foreclosures - Buzz! Buzz! Buzz!

Wed, 16 Sep 2009 15:45:17 -0500

These days Las Vegas real estate is buzzing with people scouring the market for foreclosures. Whether it be a single family bank owned home, a luxury high rise condo on the strip, or a hotel-condo. In an effort to simplify searching these REO properties for our clientele base, we have developed a cutting edge website:

www.LasVegasLuxuryHomes.com

If you are looking for up-to-date foreclosure listings in Las Vegas or Henderson you will find this newly developed site invaluable! Please visit often - and keep an eye on the listings STATUS - If it says PENDING or CONTINGENT - the property is no longer available.

See something interesting? Keep track of the MLS # and give us a call. We are an experienced team and know the ins and outs of Buyer Representtion for all bank owned properties in Las Vegas.

CONTACT THE STARK TEAM for CITYCENTER info

702 376-5220

How Much Will MGM CITYCENTER Reduce its Prices?

Wed, 16 Sep 2009 00:21:04 -0500

MGM CityCenter is getting ready to close its hotel-condo units at V'Dara (hmmm!) and its residential units at VEER and Mandarin Oriental. This recent article in the Las Vegas Sun is well written and comprehensive.

Read CITYCENTER NEWS HERE

V'Dara will be hard pressed to compete with the guard gated MGM Signature Residences just one block east as foreclosed condos are selling for over list price in many cases as buyers vie to gain a great fully furnished pad at a quarter of the asking price for a similar sized unit at V'Dara. The article above states that V'Dara may be sold to a boutique hotel chain as its buyers have the option to get financing in VEER. This makes sense to me.

VEER - on the other hand has little competition with its Las Vegas Blvd. address - except for SKY LAS VEGAS - the only other residential high rise condo located directly on the strip.

With price reductions - VEER condos could be a winner - the location is unique.

But the new condos at Panorama Tower III are the most stunning of all!!

And the expansive views are BREATHTAKING

TAKE THE TOUR OF PANORAMA III - Call June for Special Pricing 702 376-5220

CLICK HERE FOR LAS VEGAS CONDO AT MGM SIGNATURE

702 232-5376

702 376-5220

Panorama Tower Las Vegas Condos Just off the Strip-Tower III - The Latest Greatest High Rise to hit the Market? Could Very Well Be!-Check Out The Photo Tour Below Courtesy of the Stark Team www.LasVegasCondoExperts.com

Sun, 16 Aug 2009 14:36:55 -0500

Panorama Tower III seems to have all the bells and whistles and breathtaking Strip views that condo buyers seek. The luxury high rise condo tower has just begun selling units that were previously purchased during the boom. Most buyers have chosen not to close on their units and the condos are selling at reduced prices. Take a peek at the photos below and CONTACT THE STARK TEAMfor pricing and expert Buyer Representation. Located just across I-15 - 1 block west of the strip - the tower's name is well chosen. PANORAMIC VIEWS are par for the course from most every unit. CASH BUYERS ONLY NOW. And cash is king - let us help you get a solid value in the newest Las Vegas high rise condo to hit the market.

702 376-5220

Watch the Live MGM CityCenter Web Cam Here

MGM CityCenter Las Vegas Condos - Buyers Have Formed On-Line Blog

Sat, 15 Aug 2009 17:58:39 -0500

The Las Vegas Sun Reported today that many of the pre-construction buyers of the condos on the strip for sale at MGM CITYCENTER have formed an on line blog in an effort to share their issues in a social media setting. The phot below is courtesy of the Las Vegas Sun and shows the city within the city of Las Vegas taking shape.

Veer are the two slanted residential towers in the foreground. These units pre-sold for about $1000 per sq. ft. and up. The slanted roof shopping center known as the Crystals is in front of VEER, and the Harmon Hotel is to the right - partially finished. The two blue glass building to the extreme right of the photo is the COSMOPOLITAN RESORT and Casino - being built out by its lender, Deutsche Bank.

Vdara is tucked away in the rear of the complex, behind Aria and Veer,

READ THE NEWS HERE

MGM Signature condos for saleare moving like hotcakes. Cash Buyers are snapping up penthouse floor corner one bedrooms for under $300k. These hotel-condos have a lot to offer. The on site rental program at MGM Signature is up and running with all terms and conditions available. Buyers at Vdara at the MGM CityCenter condos are still awaiting info as to the on site rental program. These MGM Signature condos just a block from the strip offer guard gated luxury living, Snaidero Cabinetry, Marble clad bathrooms, floor to ceiling glass, balconies on all 1 bedroom units, stainless appliances, a washer/dryer unit - owner's lock out closet, jetted tub wth granite counters in the bath and kitchen, flat screen tv's and so much more.

View a Variety of Virtual Tours for Las Vegas Strip Area condos for sale

There are also a variety of condo foreclosures at MGM Signature in the studios - which are priced below $200k for 520 SQ. FT. FULLY FURNISHED units. Some have balconies, others do not. The high floor units in MGM Signature tower 3 on the strip view side have views down the Harmon Corridor - of CityCenter as pictured above. Quite the sight - this new city within a city promises to be an epicenter of entertainment and shopping, and fine dining. Buyers of the Signature condos for sale at MGM Turnberry, can reap all these benefits at prices that are close to a third of the price per sq. ft. that the pre-construction buyers at MGM CityCenter paid. Little wonder, The Stark Team is getting more inquiries for these strip area condos in Las Vegas than any others.

The STARK TEAM knows the ins and outs of representing a buyer in the variety of bank owned foreclosure condos on and off the strip. Looking for the best bang for your buck? CONTACT US.

Stark Team On Line EZ Strip Area CONDO SEARCH LINK

HOT DEAL ALERT REGISTRATION FORM

Call us at 702 236-8364 and 702 232-5376

Visit our New Site and Search All Las Vegas Foreclosures Listings on line

MGM CityCenter Las Vegas Condos - Prices Will be Cut in an Effort to Close Sales

Sat, 01 Aug 2009 11:25:57 -0500

MGM/Mirage Corp has released a news item I found on www.bloomberg.comthat says that in an effort to get the MGM CityCenter strip condos it sold during the preconstruction stage of sales closed, the company will try to arrange for financing and will cut prices.

CLICK TO READ THE MGM CITYCENTER NEWS

Photo Below is of the Vdara Hotel-Condo Component

When will MGM/Mirage announce the rental program terms and details of the Vdara Hotel-Condo? Aside from pricing - these terms and conditions are sure to be a significant determining factor in the buyer's decision to proceed with a purchase. With MGM Signature studios selling at $150-$175k on the resale foreclosure market, and lavish corner 1 bedrooms selling at $250k-$325k - we wonder how far down in price CITYCENTER will go in an effort to be competitive with these MLS Foreclosure listings that are getting multiple offers in a day.

Search MGM Signature Condos for Sale

Buyers are gobbling up these foreclosed condos just a block east of the strip while sale of TRUMP Tower condos are stagnant. Will MGM/Mirage Corp. take a look at Palms Place and Trump as a comparison and price their CityCenter Condos below that price level? The hotpoint for sales needs to be closer to MGM Signature levels in my opinion in order for buyers to step up to the plate and close. But if MGM/Mirage can arrange for financing, I expect the sales velocity could be good when coupled with significantly reduced prices.

Buyers will want to compare these prices with those of Panorama Tower III, just across the freeway - which is an elegant tower offering LOW HOA DUES of only 44 cents psf and breathtaking strip views. Prices on these stunning luxury condos close to the Las Vegas Strip have been slashed as well.

Panorama Tower III - Take a Tour

Looking for guidance in the purchase of a Las vegas condo on and near the strip? Looking ot take adavantage of the flurry of MGM Signature foreclosed condos that have been listed in the MLS?

Contact The Stark Team. 702 376-5220

The Comopolitan Resort Hires its New Chief! Finally Some Promising News!

Thu, 30 Jul 2009 22:33:44 -0500

The Cosmpolitan Resort and Casino has made an announcement about its new Manager:

Read The News

Bloomberg.com News

High Rise Views Everyone Wishes For!

Stunning Floorplans!

Walls of Windows!

Will the buyers be given the option of closing on their units or getting their deposits back? After all this time that seems only fair. This latest bit of news has been the only news released lately. It's time Deutsche Bank stepped up to the plate and issued a statement about the disposition of buyers' deposits.

Vegas needs a new resort like this hip and trendy one to increase tourism. Located across from the new MGM CITYCENTER I think this casino location is brilliant! I have no clue what MGM was thinking when it placed ARIA off the strip in the center of the dense development - but COSMO's location right on the corner of Harmon & LV Blvd. seems like a real winner to me!

Looking for a great repo deal at the MGM Signature at 30 cents on the original dollar or less?

The MGM Signature is located a block east of the Harmon/Vegas Strip intersection.

Contact THE STARK TEAM.

Visit www.las-vegas-foreclosures.info

702 376-5220

Las Vegas Foreclosure Listings Search Link Courtesy of The Stark Team

Sun, 26 Jul 2009 13:26:33 -0500

Are you looking for an easy way to search all foreclosure listings in Las Vegas and Henderson NV? The STARK TEAM has devised a simple way for our clients to easily search all single family home foreclosures and condo foreclosures on the market:

STARK TEAM LAS VEGAS CONDO AND HOME FORECLOSURE SEARCH LINK

Please be sure to make the STATUS "active" or you will access listings that are under contract.

You can enter your price range, and whatever other parameters you wish. If you are looking to search in a specific SUBDIVISION, you can click on the SUBDIVISION TAB and then on the letter that the SUBDIVISION name begins with.

It's that simple. When you find something you like - submit a request for more info.

We are looking forward to hearing from you soon!

702 376-5220

www.Las-Vegas-Foreclosures.Info

Las Vegas Estate Market Analysts Declare a Bottom

Wed, 22 Jul 2009 15:03:58 -0500

After spending the past few months writing offer after offer in an effort to get our clients a well priced foreclosure deal, and playing the "highest & best" game, finally an article has been written stating the market has bottomed:

Click to Read

When the news is bad - there are articles galore - but when there is a strong rebound and a feeding frenzy of buyers trying to snag a low priced repo - and 12,000+ homes and condos under contract in the Las Vegas MLS - nary a word in the national media about the incredible sales velocity Vegas real estateis experiencing. Kudos to Hubble Smith of the Las Vegas Review Journal for finally breaking the news that all active Las Vegas real estate agents have known for the past several months.

Yes - the bottom is in, but it is our opinion that it will be a long "L" shaped one, graphically speaking. For those looking for a Las Vegas condo foreclosure or luxury home foreclosure CONTACT THE STARK TEAM at 702 376-5220. We know the ins and outs of the foreclosure and REO game.

We also have access to developer close out deals and off market listings in luxury high rises, lofts, and new homes. For those who wish to avoid the bidding war process - there are alternatives.

www.LasvegasLuxuryHomes.com

www.LasvegasCondoExperts.com

www.LasVegasHiRiseCondos.com

The Cosmpolitan Las Vegas News Report from Las Vegas Business Press

Fri, 26 Jun 2009 23:29:47 -0500

Ever since Deutsche Bank has foreclosed upon Bruce Eichner's Cosmopolitan Resort Las Vegas Condo Project - the channels of communication have been virtually non existent between the new regime and the condo buyers, real estate agents, and the press. For such an iconic project, with a tremendous presence in the heart of the Las Vegas strip, news has been totally non existent.

Primely located across Harmon Boulevard from the new MGM CITYCENTER, the views from these towers are some of the best in Vegas.

A good thorough investigative report was released in the Las Vegas Business press this week.

PLEASE CLICK TO READ

We took this photo from The Beach Club Tower at the end of 2008.

Love the tower's shadow in the Bellagio Fountains!

Looking for a Vegas Strip Vicinity Condo or Foreclosure?

Visit: